Lululemon's new CEO to get higher base salary than predecessor

TORONTO Dec 11 (Reuters) - Lululemon Athletica Inc's
incoming chief executive, Laurent Potdevin, will be
paid a base salary of $900,000 as well as signing and retention
bonuses, the upscale yogawear retailer said in a regulatory
filing made public on Wednesday.

Current CEO Christine Day's base salary had been set at
C$750,000 ($706,000) for fiscal 2013, according to Lululemon's
last proxy filing.

Potdevin, set to take over in January, will be eligible for
performance bonuses up to 150 percent of his base salary, like
Day. He will also receive a $200,000 signing bonus, and a $1.65
million retention bonus.

If he resigns within 24 months of his start date, Potdevin
has agreed to repay the retention bonus on a pro-rata basis, the
company said.

Potdevin was also awarded $2.0 million worth of restricted
shares. One-third of the shares will vest in each of the three
years following his start date if he is still employed by
Lululemon.

Lululemon, which is looking to expand globally and put a
series of embarrassing quality issues and other problems behind
it, named Potdevin as its new CEO on Tuesday.